STMicroelectronics quarterly earnings rise

AnaCampoy

SAN FRANCISCO (MarketWatch) -- STMicroelectronics N.V.
STM, -2.64%
after Tuesday's closing bell reported second-quarter earnings of $168 million, or 18 cents a share, compared with $26 million, or 3 cents a share, in the same period last year, as sales rose and expenses dropped. Analysts surveyed by Thomson First Call had expected per-share earnings of 16 cents. The Swiss maker of semiconductor products said quarterly revenue rose 15% to $2.49 billion vs. $2.16 billion. The polled analysts had forecast revenue of $2.48 billion. The company said it expects 2006 sequential sales ranging from a fall of 1% to a rise of up to 5%. STMicroelectronics also said it sees a 2006 gross margin of about 36%.

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